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MONEY With Melissa Francis

Melissa Francis with a breakdown of the day's top stories and their impact on the American Taxpayer.




San Francisco, CA, USA

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Us 6, Arby 5, New York 5, Bitcoin 3, Axa 2, Peter Barnes 2, Safeway 2, Google 2, Kpn 2, Blackberry 2, Cialis 2, Robert Shapiro 2, Cheryl Casone 2, Liz Claman 2, John Chen 2, Dr. Manny 2, The Nation 2, Patrick Byrne 2, California 2, Melissa 2,
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  FOX Business    MONEY With Melissa Francis    Melissa Francis with a breakdown of the day's top  
   stories and their impact on the American Taxpayer.  

    March 5, 2014
    2:00 - 3:01pm EST  

a few minutes. plus the president is pushing for a higher minimum wage at 2:30. we have former undersecretary of commerce who doesn't buy it because even when they say it's not it is always about money. breaking news right now from the fed. let's go to straight to peter barnes in d.c. peter? >> thank you, melissa. economic conditions con continue to expand from early february despite extreme weather says the latest fade book with eight of the 12 districts reporting improved economic activity with mostly moderate to modest pace. according to beige book of economic conditions that the fed will use in its next policy meeting in two weeks. at that meeting the fed will continue whether to consider to taper monthly in bond purchases. beige book says outlook in most districts remain optimistic. the fed is watching job growth
and inflation as it considers next step and on those the beige book says, quote, employment levels improved gradually for most districts while price pressures remain subdued except for energy costs and costs of construction products. melissa, back to you. >> peter barnes, thanks so much. we'll see how the market is reacting. james is on the floor of cme of the are you seeing any movement? market is coming back a little bit. we were down 40. now we're down about 30. >> this is very, very muted reaction here. the market is ticking into positive territory. spent most of the day in a very, very tight range. s&p futures are trading in a range of around 1870 to 1875. this isn't going break us out of this range. we're up on the day but seeing bad data we had this morning but didn't see all the weak money yesterday that got washed out this morning. i think there is bid in the market around 1870 level and i think we'll probably close the day high ier. melissa: james, thank you very
much. google capital a firm created by google, inc., announced a deal for this is one of four deals the google capital has made in the last year. joining me is the ceo and google capital partner who led the deal. he joins us as well on the phone. jeff, let me start with you. so i was looking at the properties. how does it compare to trulia, and other sites that might also offer distressed properties? >> yeah. so trulia and zillow are informational sites. is transactional site. so people, nine out of 10 homeowners today want to buy a home to live in will go to one ever the online sites to find real estate. transacted 7 1/2 billion dollars of commercial and residential real estate online. melissa: since 2013, it has been6 billion. that is a lot changing hands.
do you think you benefited from the bust in real estate? so is that a problem going forward as the property market gets healthier? >> that's a great question. of course lots of marketplaces are formed by distress in the market. you saw it in the hotel industry. you've seen it in the travel industry. we've seen it in the real estate industry. it allowed to create a lot of inventory in the commercial real estate space as well as residential a.m. space and to create a marketplace effect for buyers and sellers to transact real estate online. melissa: david, what do you think google could add in this partnership? why was this attractive to you? >> fundamentally we look at the size of the market, the uniqueness of the solution, the revenue and profit wrap that the company is largely due to excellent management team. and then when you look at marketplace, we look at more nuanced point, in this case buyers becoming sellers, that's a real strong indicator that you have a marketplace.
>> your other investments survey monkey, renaissance learning, lending club, in adding digs to auction what is your sweet spot for investing? >> we invested in financial services as you mentioned and education technology and now real estate. we're basically looking at very large markets, you know, kind of with very disruptive technology companies. melissa: what have you seen in terms of the turns in real estate? people say real estate really recovered but only happening in some spots, but not others. you have such an overview in the entire country. how would you characterize that right now. >> has some of the greatest data available in the market. i think the recovery is a tale of two stories. one of 24/7 cities where recoveries are happening faster and slower in more tertiary markets around the country. melissa: what are the revenue streams going forward? you would make money off each transaction i would imagine. >> that's right.
melissa: there is huge advertising component. tell me where you see the opportunity. >> we are not a advertising portal. we're strictly a transactional portal for transacting real estate on line. we sell real estate for large institutions and owners of real estate. melissa: do you mine and sell data from people coming on that list properties in that is valuable information? >> we have a lot of data on property information. most up-to-date data available in the market on we sold tens of thousands of pieces of real estate last year. melissa: david, do you leverage knowledge behind google? is that part of your investment strategy or are you totally separate entity if. >> we're a separate entity. our strategy is to leverage the softer skills. a lot of companies get to run auction sites, nine hundred employees and struggle with many of the things that google struggled with to grow to a company of 4thousand employees. and you know that is the type of
expertise across marketing sales. product development, engineering we're trying to bring to melissa: david, could you see investing money over time in auction? >> all of our investments could end up being bigger invests. it is really an investment. melissa: gentlemen, thanks to both of you. appreciate your time. big news. >> thank you. >> stocking up on bitcoin. overstocke. com accepted more than a billion bucks in bitcoin sales in less than two months. patrick byrne is ceo of the company. thank you so much for coming back to the show. when you first said you were going to do this we asked to you come back to tell us how it went. we appreciate that you honored that. you've done a million dollars in sales so far. what is your typical bit coin customer like? how do they behave differently? >> one way they're different they're male as opposed to female. typically our shoppers are 60% female. bitcoin users are 80% male. they also spend quite a bit more, 230dollars, versus $150. melissa: why do you think that
is? what is your gut on that? >> well, part of it is a mix. it's a mix, they buy, they're more prone to buy computers and electronics than are normal traffic. however not that much more. they are buying a lot of furniture and sheets and everything else. maybe it is affluent thing. maybe it is because they're affluent. if they have bitcoin, and bitcoin excuse affluent. maybe they're trying to show support. i'm seeing on blogs and such that the bitcoin community is trying to show support spending money at overstock. melissa: have you had challenges so far and holding on to the bitcoin or are you trading into dollars right away? >> so far, we were trading it into dollars. i think i told you that on the last show of the we were instantaneously converting into dollars. we decided 10 days ago we said we would accumulate a bit of bitcoin. maybe 10% of sales we won't convert into dollars. we'll just coupe late and build
a reserve of it. melissa: of course, bitcoin has been in the news this week a lot. there was the mt. gox failure and the second company that went under. in both case it is had to do with hacking and somebody coming in and stealing the bitcoin in mt. gox. we don't know for sure that was the whole story but did that shake your confidence at all in bitcoin? >> not really. every time a bank gets robbed, people don't say, oh, my gosh, something must be wrong with the dollar. >> but those customers deposits are insured though. for these folks that lost money, mt. gox in particular, half a billion dollars is lost and gone. >> that is different. you don't have any federal insurance that's correct. it is really a question of, look, nobody is actually hacked bitcoin. they hacked companies that are plugged into the bitcoin network, to hack bitcoin you basically have to change the rules of mathematics. if you hack bitcoin you can hack pretty much everything in the world. there are companies growing up
in this eye cosystem around bitcoin. some will be hacked. they will have crooks. this company turned out to are have a crook or this company was hacked. every time a bank gets robbed or somebody embezzles dollars doesn't mean dollars are bad and i think that is what is happening with bitcoin. melissa: patrick byrne, thanks for coming on the show. >> thank you. >> do we need it? we are talking to the brains behind it, coming up. and the cost of living longer. yet another device to keep your heart pumping. great for you. could be rough on the economy they if we keep everyone alive forever. have you thought about that? it is a bit of a problem. more "money" coming right up. y.
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melissa: now for something i think is pretty genius. forget the bat phone. meet the black phone. the new smartphone is hailed as untappable, unhackable. will it keep your data out of spying hand? the blackphone creator is here on the show. thanks for coming on the show.
we have been fascinated with the phone. we got a lot of questions in the twitterverse. you have it right there. show it to me. tell me how it works. >> well, thanks. basically what we have, melissa, a high-end senator phone running more secure version of android has all your calls, your videos, your contacts, your web surfing, the files you send, your cloud storage is completely encrypted. comes completely unlocked. and the main thing is, we don't collect data. so, we're not like the usual smartphone that monetizes your data. in fact, this phone was built upon the premise of privacy an control. so as a user, you can turn the knob on how much privacy you actually want. melissa: so let's talk about the amount of privacy. first of all, can the ns a-listen in to me if i'm using this phone? >> no. but it is not nsa-proof. melissa: what is the difference? >> if you're top -- depends who you are. you know, the nsa and other
intel agencies have very, very special tools called zero days. that if you're on the top 100 terrorist list, there is no helping you. the throw away any phone becausethey put that on your phone, they can get everything. >> okay. so it sounds like not nsa-proof then? it is not nsa-proof. >> there is not a phone today that is nsa-proof. melissa: tweeter asked does this put in. sa target on you? does it make you more attractive to the nsa and make you more attractive to thieves, to cyber attacks. >> no. as a matter of fact it makes you less. because your signature on the internet, on the airwaves, on the towers is reduced to almost nothing but we have consumers from 131 countries. 27 of the fortune 50 and 11 governments as customers. so you know, we expect to sell
two million alone to our partners, kpn, out of netherlands who bought 500,000 for germany, belgium and netherlands to start. so it is mass produced out there. melissa: they're going for $629 right now. kpmg put out a note that the blackphone acts as red flag to criminals. you obviously disagree with that if. >> i'm not sure can. pmg is best positioned to talk about mobile encryption and security. anytime you do something like this you will have a lot of detractors and at the same time, you know, we're pushing back against the normal way business is done. we're not monetizing data. >> how is this different from the phone that boeing put out? they put out a phone that will be used primarily for government officials and for people that have, you know, a security level within the government? how is yours different from theirs? >> apple and oranges. theirs is a 20,000-dollar phone built just for the u.s. government that, you know, can't
do the things that we do. it is not for consumers. it is a different world. ours is, you know, for the world. it's fast as an iphone or a galaxy and it is cheaper to unlock. you actually control privacy. we're not trying to come out and say this is a hardened brick that only lets you do one or two thing. this is suppose to left you -- let you live your life but control privacy. melissa: how many preorders? how many are you producing? when it is available? >> preorders are 600,000. including 500,000 we're shipping to our partner kpn. all these will be shipping first of june. and you can still buy it anywhere, you know, at our site, worldwide. we're a swiss-based company. so, trying to be neutral. melissa: very interesting. mike, thanks so much for coming on. keep us posted how you do. >> thanks for having me. appreciate it. >> coming up medical innovation that will keep your heart living
longer. this can keep your blood pumping but at what cost? this is a case for dr. manny and medical dollars. that is coming up next. the price of bacon is going up by the minute, oh, no! hog prices seeing yet more volatility. probably will hit you at the checkout. we'll go to the cme for more. do you ever have too much bacon?
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melissa: to a medical breakthrough that is so unbelievable it could make your heart skip a beat. scientists in illinois using 3-d printing to make a device that could reprays traditional pacemakers and keep your ticker beating forever? that sounds great but all the increased costs with the extended life expectancy.
dr. manny alvarez with the fox news medical a-team is here. tell me how it works. >> with 3-d printings you're take a picture of the heart, create a very specific device that goes around your house, taylored to measure. melissa: i feel like we have video of this we could be looking at. >> embedded with different electrodes. typically, you know, every, let's say pace maker is basically a wire that goes all the way to the heart to a focal point. when the heart has irregularity, it shuts electrical impulse and gets you back into rythym. there is lot things done with the new technology of 3-d. melissa: right. >> you're able to put this thing around the heart, a sock, if you will, that fits perfectly and then you have multiple electrodes. they can measure oxygenation, heartbeat, tell you if there are other areas of the heart that are getting occluded. so it is the future you know, of medicine. melissa: it is the future, it is. is this single biggest
innovation to medicine, 3-d printing? >> 3-d printing will be the key. pie owe engineering, i spoke to many, many scientists bio engineering, if you have a skull fracture. now basically with 3-d printing you can reformulate the specific bone to measure so the surgeons implant it and you don't have any kind of disfigurement. so everything with 3-d printing, everything with bio engineering, anything with replacing human parts, anything with replacing specific monitoring devices, will always be predicated now on these types of technologies. melissa: seems like we'll be living a lot longer. >> i want to live a long life. melissa: i know you do but you do you want absolutely everyone to live a lot longer? i don't know how we'll afford that. the member of people over 65 years old increased by 10% over past 10 years without all of this. >> french philosophers used to say life begins at 50. right now i'm in kindergarten.
melissa: maybe now 70. that is not happening any longer. with a good wine you could live for a long time. look, no, at the end of the day you want, people will live longer no matter what, there are other permutations. smoking is colling down. better foods, more organics. all of that is happening. so people will live longer. what you want people to live longer to have a better quality of life. when it comes to 3-d, remember, there is the unexpected. things that, that come into play whether you're talking about automobile accidents, broken bones things of that sort you don't expect and those kind of things are going to be enhanced by bio engineering which is now in partnership with medicine. melissa: will i work until i'm 100 because life expectancy is expanding and social security -- >> for decades, for decades. syndicated in mars. melissa: sometimes feels like that. dr. manny, thank you very much. you're fantastic. >> thank you. melissa: i want to show you shares of chipolte right now
because they are backing down. earlier today they said they might take guacamole off their menu due inincreased food costs brought on by climate change. guacamole is getting expense sieve, avocados were getting expensive and they would take away the guacamole. people panicked. they're backing away from the statement. because guacamole is important over at chipolte. don't fear. stock is recovering but still lower. better drink up san francisco, one step closer to all-out ban an bottled water in public places. city supervisors want bottles of 21 ounces or smaller made unavailable on all city property as well as at concerts in parks and at food trucks. the ban still needs to be signed by the city's mayor. most think that is going to happen. san francisco absolutely no doubt. water bottles, they are saying water bottlers say they're being unfairly targeted. i guess you get a soda. have a coke. that's what they want to you do.
coming up the war on your luggage. you will never guess the new charges coming your way the next time you fly. plus, if you thought this town looked familiar, that one right there, you're not alone. arby's thought it looks so much like their logo, they spent 44 grand on it. don't miss the exclusive interview with the happy sandwich maker, coming up next. "piles of money" coming up next. ♪ predicting the future is a pretty difficult thing to do. but, manufacturing in the united states means advanced technology.
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and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. much longer pork and bacon prices the going got? lean hog futures is slightly lower after hitting new all-time highs, scott kennedy is that the chicago mercantile exchange with the story i was panicking over
saying the deadly swine virus cutting deep into u.s. pork supplies. prices rising. it is not funny, millions of pigs have died. what is going on? are people talking about this? >> yes. it is a perfect storm for the hog market. two years ago when we had a bad drought we saw a lot of farmers and cattlemen bring their herds to market because they couldn't afford to feed them. we are low and head count anyway but wrote in this viruthrow in doubles the when. if you look at that chart of hogs right now, you do nothing with that, can't get in front of it and don't want to sell it either. there is no real solution right
around the to 25 st so far. it is a huge outbreak. looking at estimates, federal forecasters say retail prices could rise 3%, seems like it could be a much bigger number than that. >> i'm walking up the stairs thinking in my mind 5% to 15% because you are crazy if you are not trying to get in front of this. they will jack the price is up 10%. 3%, they are kidding themselves. i would like to have what they are having, between 5-15, there is no real solution right now and it is all up and down the chain. one more thing, smithfield, china, smithfield is three times larger than the next producer. melissa: a lot of bacon, thanks so much. arby's is spending big to capitalize on social media buzz. the sandwich chain showing that
$40,000 to buy the hat from the grammys after pointing out the resemblance with their logo. the move part of us have the new marketing push by arby's. a fox business exclusive, chief marketing officer and president rod lynch. this is such a fun store. everyone is having a ball with it. it says a lot about your social media strategy. you guys were quick to hop on twitter and you tweeted out can we have our hat back? was that just somebody at home watching the oscars? did you have a sense he was going to wear the hat? >> we are extremely happy about are these's relationship that started with the commitment to the social media platform. we believe it is a great way to engage our customers and connect in a conversation they're having around relevant cultural events. our head of social media was watching the oscars and
listening to the twitter feet at the same time and tracking the conversations and when the idea came up that some of our customers started talking about it looks like the ivy's hat, took the opportunity to tweet can we have our hat back? lori: what you plan to do with $40,000? >> that is a fun story. when we saw that they were putting the hat on ebay and the proceeds from the sale of the hat were going to go to his charity from one hand to another we felt it was a great connecti connection. so our arby's foundation we have given $60 million since the inception of the arby's foundation. is a great tie in. melissa: a great time in but at the same time arby's has a crisis with its image.
nobody loves fast food more than i do. i have never been to arby's. it is a brand that a lot of critics say does not have a clear identity and is not reaching out to use. you come from taco bell where genius things were done like the -- makes all kind of sense. with the crossover promotion. >> it is about innovation. we lunch the great new product last year that delivers significant significant sales growth for the arby's franchise holistically. moving forward it is about delivering innovative products and innovating on other fronts like marketing where we are expanding into social media and other formats so we are trying to create a brand voice that is engage in and relevant with current customers as well as appealing to newer younger more diverse customers that are really driving the restaurant
industry today. melissa: thanks for coming on. we love that. i want to wear it. send it by. i won't tell anyone. i will tweet out a quick picture and be done with it. >> we would love to show up at your door. melissa: president obama making another push for higher minimum wage. secretary of commerce robert shapiro says he has better alternatives. he is here exclusively to explain because at the end of the day it is all about money. [ male aouncer ] we all think about life insurance. but when we start worrying about tomorrow, we miss out on the thin that matter today. ♪ at axa, we fer advice and help you break down your insurance goals into small, mageable steps. because when you plan for tomorrow, it helps you live for today. can we help you take a small step? for advice, retirement, and life insurance, connect with axa.
cheryl: cheryl casone with your fox business brief. wall street journal reporting equity firm service is working to buy safeway, the nation's second-largest grocery chain. and $9 billion deal by the end of the week. kroger, the top supermarket chain is considering a rival bid for all or part of safeway. target's chief information officer resigning as the nation's second-largest retailer overhauled his information security. and data breach that had accompanied during the holiday season. tied it says it is accelerating a plan to rollout cit based credit card technology. phyllis service companies grew in february at the slowest pace in four years. the supply management service sector index fell to 51.6 from january, 54. a lot coming up on "countdown to the closing bell" with great interviews and liz claman in
california. back to money.
>> wall street remain street here is who is making money. and bank of america shares of the lender have been showing shares of the high, that it will soon raise its dividend for the fiscal year and a quadruple the quarterly payout.
is all speculation but the stock is up 2.9%. brian mullen and open up 2.5 million shares meaning more than a million bucks, not bad. also making money surprisingly and not executives at radio shack, the zombie retailer approved $1.5 million worth of retention bonuses for executives, radio shack doing everything it can to cling to its leadership has tried to bring itself back to the brink. the ceo is hint line to get an extra $500, of but will he? making sure you spend more money. united airlines wants you to pay $25 for each of the size carry-on bag that you bring. passengers trying to stuff the bags in overhead bins could be sent off the plane and back to the ticket counter to prop up the money, no way that is true. all the way back to the security, and don't know where this is going. president obama is in
connecticut pushing his proposal to raise the minimum wage from $7.25 to $10.10 by 2016. the cbo estimates this proposal will bring 2% of people out of poverty. my next guest says there are ways to fix income inequality without changing the minimum wage. joining me is undersecretary of commerce for economic affairs robert shapiro. thank you for joining us. >> pleasure to be here. melissa: what is a better idea? >> let's start with the proposition that it is appropriate to do something for very low-income people. the fact is you have millions of people who work full time year round and they can't raise of family out of poverty. and so that is why the president thinks about the minimum wage but the fact is if we agreed that that is a problem and we need to address it, then the most efficient way to do with
the president has also proposed and that is to expand the earned income tax credit. it is more e efficient because the air in income-tax credit provides a subsidy for the wages of those who work and are still in poverty. the problem with the minimum wage is you can hold a minimum wage job regardless of your family income. you have teenagers in summer jobs, you have a lot of second earners working part-time, earning the minimum wage but coming from families that earn middle-class incomes or even upper-middle-class incomes. that makes the minimum wage and inefficient way to address the problem of the working coin. melissa: one of the biggest challenges the cbo putting out a study this month saying the president's proposal would lift 900,000 workers out of poverty.
at the same time it would eliminate 500,000 jobs. how do you reconcile those numbers. they are coming from the cbo. do you think it is accurate? >> i haven't examined the cbo's model but i think the cbo tends to be as accurate as these kinds of estimates can be. the fact is whatever the impact of the minimum-wage the pentagon conditions in the overall economy. the cbo assumes those are normal conditions, you get more abnormal conditions, the implications change. for example, if we started growing and 4.5%, you can put an increase in the minimum wage and wouldn't have very much of an employment effect because the demand for workers would be so high. melissa: when you look at the
numbers you see by doing the math no matter how many numbers you look at it doesn't make sense even if you think it would help 900,000 workers and taken out of poverty the same study says there are 45 million workers right now that are living below the poverty line which is an enormous number so you are talking about whatever it is, 2% of the folks you are talking about. >> the problem is the minimum wage is an inefficient way to address the problem. the issue of the working poor. much more efficient way is the earned income tax credit and the president has proposed to expand the earned income tax credit by $60 billion over ten years. melissa: getting a lot of traction on the minimum wage idea. we're watching the president talking in central connecticut central connecticut state univ. every time he talks about raising the minimum wage and income inequality in this country he does get a lot of
traction. what is a way to combat that message or solve it more effectively by side turned income-tax credit? is there something people could get behind what this idea of raising the minimum wage which isn't going to do that much? >> frankly, the president gets that response not because he is proposing the minimum wage, an increase in the minimum-wage but because he is expressing his personal concern and commitment to doing something that -- about problem all americans for almost americans experience which is stagnating incomes and that is a problem that goes straight through the middle class into the upper-middle-class. the president, even though the minimum wage wouldn't do anything for most of those people, it at least from their perspective demonstrate that he
cares about the larger issue of what is happening to people's incomes. let's get more e efficient and effective ways to address it which include not only during income-tax credit for the working poor, but a series of other proposals or approaches which could help restore more normal income growth. melissa: thank you for joining us, appreciate your time. "countdown to the closing bell" is just about 15 minutes away. cheryl casone is a preview of what is coming up. cheryl: "countdown to the closing bell" is going coast-to-coast. i am in new york monitoring the markets, liz claman in california coming up, sitting down exclusively with the new ceo of intel talking about everything chip and cloud related and then later on this afternoon at 5:00 p.m. on fox business she will have again her
interview first on fox business with israeli prime minister benjamin netanyahu. silicon valley and is real, huge new partnership, liz is on the ground with a lot coming up and i will be here for you in new york. melissa: how many times the wanted a lot of a restaurant or bar, have to wait for the check, takes forever. sit down and listen up because there is an apps for that. the co-founder of gas is here. stick around for some spare change. you can never have too much money. there's this kid. coach calls her a team player. she's kind of special. she makes the whole team better. he's the kind of player that puts the puck,
horsehide, bullet. right where it needs to be. coach calls it logistics. he's a great passer. dependable. a winning team has to have one. somebody you can count on. somebody like my dad. this is my dad. somebody like my mom. my grandfather. i'm very pround of him. her. them.
melissa: look at facebook stock getting a bounce, better than 4% when the rest of the market is trading lower on the day, some news they agreed to delete
posted users selling illegal guns and weapons for sale without background checks, some officials in new york, attorney general eric schneider not happy what was going on with facebook and oldham don't worry, we are on it. time for fun with spare change. would you love to eat and run without having to wait for the check? dining and -- it is a new apps that lets you pay your tab without having to wait for the server. the co-founder joins me now, show me how it works. >> we want to make sure people get in and get out of restaurants on their own. melissa: nothing is worse than when you are done and waiting for the check and have to give the credit card and you are in a crowded bar. >> everyone's experience. you walk in and simply checked into the venue you are at and you are checked in and ask your server to play with that. then a link you to your tab on the existing sales this emanual
see this itemize can show up and you can simply send a tip and simply press pay now, your transaction is processed, you are able to leave the restaurant. melissa: and split checks with other people at your table. the pain-free using this? >> the restaurant pays the fee to use it and there's a low risk model. no one comes into the restaurant and don't pay anything. they pay $49 to $149 based on how many people using it. melissa: doesn't sound like much of a revenue stream. how else do you make money? >> we are very focused on expanding right now. there are a lot of waste monetize in the future since we are handling transactions, right now -- melissa: what are the other ways to monetize? cell people's information where they are going and what they're doing or what they like to eat so people can advertise? >> there is a large data
opportunity but we are concerned about security and making sure people's data is secure. since those transactions are coming through the platform will want to lower the fees that make money on the process. melissa: how do you make sure everything is secure? you are still finding a way to make money. >> nothing is more insecure than handing your credit card to a server and have them walk away with it. making that transaction electronically is very secure. melissa: what is to stop other people from doing the same thing? is genius but doesn't seem like a difficult apps. >> immigrating with the system the server use behind bars, very challenging and only a couple people have been able to do it and they made it easier for merchants to actually accept it. melissa: good luck to you, thanks for coming gone. coming double blackberry kind of showdown. believe it or not some are still in love with this stock. others think the company is as good as dead. don't miss the wall street throw down. you can never have too much money. ♪
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melissa: shares of blackberry dialing lower after a strong start to the year but is it time to jump off of the blackberry bandwagon? time for wall street throw down. fox news contributor steve more. can't believe it. on the other side, the adviser president jason rothman. thanks for joining us. there is the whistle. you know what that means. i will start with you. i still have a blackberry but you are born stock. >> i am mobile on the product. can't give this thing that. the blackberries were not smart phones which is why they fell behind, now they are as smart as the iphone and their stock is up 20%. john chen is off to a great start. if he keeps this up he will be the ceo of the year for rescuing the company. melissa: jason?
>> john chen is not off to any type of pace. looking at some sort of hopes and dreams that this is a great turnaround story which it is not. my major argument and major theme is the numbers do not live. the recent report leaked out from t mobile said when they offered their consumers the chance to change guess how many people change from blackberry? 94%. that is not exciting to put my money in. melissa: you and i are a dying breed clinging to our blackberry because we can't fight on iphones. their business is based on people who can't type on iphones and sooner or later i will figure out how to do it. >> that is why i stick with the blackberry. i hate the touch screen. now that i have the newest version of the blackberry it is as good as the i phone, galaxy or any other phone out there people start to realize this is a high-value product that has a
great keyboard and is cheaper than most phones. melissa: people love always loved the blackberry and for whatever reason the company continues to fumble as a company. it was ubiquitous, totally dominated the market and they trashed the entire company. the problem is never that people don't like blackberry so why do that now? >> the key is they are like a dinosaur in a sense that they are just doing what google/android/apple has done ten years ago, just starting to get apps integration. i also have a theme of show me the money. blackberry failed the show me the money test. if you invest in blackberry now the only thing you'll get is a black guy. >> leadership matters. melissa: blackberry's ceo said recently in barcelona that his restructuring strategies at a 50/50 chance of working.
when your leader says 50/50 chance of working out that is terrifying. >> used to be 20%. 50% is a big improvement. stock is up 20% because people start to believe this ceo has a formula for turning around and 2014 is off to a great start. >> this is a dead cat bounce. not the start of a multi-year renaissance. the rally is over. fine when it is up 30%, utterly ridiculous when there's a 50/50 chance from the ceo of survival. melissa: ryan seacrest was trying to put a keyboard on the ipad that would be -- it would be all over for blackberry. the whistle, it is all over. you are my hero, nice try. all right, that is all we have for now. hope you made money today. tune in tomorrow to hear fannie
mae executive ed pinto on why now is the right time to buy into the real-estate market. that is tomorrow at 2:00 p.m.. "countdown to the closing bell" is kicking off right now. >> intel's inside practically everything from computers to smart phones. guess where the new adam processor comes from? we caught up with intel ceo brian krzanich to talk a lot innovation and what plays a huge role in his next generation chip. the coolest on the planet? perhaps being a future mr cloud computer co. what does a futurist do? we talk to the man who is looking into a crystal ball for the next big thing for the tech giant. clearing the air over smoking, eat cigarettes are increasingly getting banned while marijuana laws are becoming more lax in some states. what does it mean for big tobacco and investors? a special edition of "countdown